Is Home Hosting Right For You?
3 Essential Questions to Ask Before Starting an Airbnb.
My husband and I love being home hosts through Airbnb! When we started home hosting neither of us knew what to expect, let alone, where this home business would take us. After two years, I’m happy to report that it has been an incredible experience. Through hosting, we have met some amazing people, made new friends, petted a lot of dogs and so much more! All of this while reaping the huge financial rewards of a home business. Whether you are a new host or just contemplating this venture, here are 3 essential questions that you should ask yourself prior to embarking as a Home Stay Host.
Question # 1
Are you a people person?
Being a Host that genuinely cares about your guests is essential to having a successful home hosting business. Although question #1 may seem a rudimentary requirement, it is one that some hosts overlook. They think of the money with the guest being an after thought. From my personal experience not every host is not “a people person.” Are you?
I recently met a host that was grumbling about the lack of success at her Airbnb. She went on to say how the guests she does have want too much attention. She indicated that they complain about the space and the price. Listening to her I realized that she has forgotten the most important rule of any business….without customers you have no business. If you don't genuinely care about your guests and their experience, then this business is not for you. The success of your business is based on great reviews. Who wants to reserve an Airbnb with bad reviews ? The answer is - no one!
Are you a people person? Are you personable and able to put others at ease? Are you able to provide both verbal and written communication that feels welcoming? Are you committed to being full of fresh energy for each new guest? Are you able to accept criticism, as well as, a compliment? Are you able provide “good value” based on what your guests are telling you? If not then ask yourself… are you able to have someone manager the business for you?
This is a home business based on the hospitality and the comfort of guests (YOUR guests) so, if you are not “into” people - take a pass.
Question # 2
Are you able to maintain a pleasant environment in which to host guests?
Before answering this question just think for just a minute about your skills. Are you able to unclog a toilet at a moments notice? Are you able to provide better than adequate housekeeping? Do you have the time to touch up paint, mow the yard and maintain an environment that is always ready for guests? If you answer ‘no’ then ask yourself…do you have the ability to pay someone to do these things for you?
Question # 3
Will you be able to run your short-term rental as a business?
Having your own business is a commitment and (simply put) a big deal! Successful hosts are hosts that approach their rental as a business. They understand the importance of responding to guests right away. They are quick to invest in their property, update the technology and keep items in good repair. What’s more, successful business owners know that you DO need to spend money to make money. Case in point…my husband and I have chosen to offer amenities such as free coffee, breakfast pastries, orange juice and bottle water. We realize that it costs us more to delight our guests with these extras but, we also recognize that these treats adds tremendous perceived value to our stays. By exceeding their expectation, we add value to our otherwise “off-the-beaten-path” location which results in better reviews which helps gain more bookings which helps drive price, etc… All of that for spending less than 3 dollars per guest stay.
Starting Your New Business Off Right!
By asking these 3 essential questions, you will be taking the first step to running a successful short-term rental! Home hosting can be incredibly rewarding and financial lucrative. The success of your business depends on you!
For us, home stay hosting has been a fabulous experience and a very lucrative one. Whether you are currently a host or considering hosting, I would love to hear from you.
